volvo 120s saildrive mod

Hi i have a volvo 120se sail drive in my USyachts 27, the lower leg is corroded and unrepairable, i have looked around for a used part but there hard to come by and very expensive new, my other option i am thinking about is to adapt a straight drive trans, change my engine mounting angle and cut a hole and glass in a stern tube and have straight drive shaft and prop on a cutless, there is a volvo md2b engine trans (ms type) for sale, gear ratios 1.91:1, the 120se sail drive is 2.47:1, it would be a much cheaper way to go and i have welders, machine shop, ect at work. any thought on the mod would be much appreciated, or recomendations of a good straight drive trans to match.

Have a look to SeaProp60 from Technodrive (Italy): it's interchangable and cheaper than to buy replacement parts to rebuild the Volvo !